Dasha puts up the cash for party at Serpentine gallery

Art lover: Dasha Zhukova, 27, is backing Tuesday's Summer Party at the Serpentine and is opening a Moscow art gallery called The Garage

She is best known in London as an heiress, fashion designer and the girlfriend of Chelsea FC owner Roman Abramovich - but now Dasha Zhukova is making waves in the world of art.

The 27-year-old is putting her money into a venture with the Serpentine Gallery.

Ms Zhukova, 27, is supporting the gallery's annual Summer Party on Tuesday, one of the most high-profile events in the social calendar, backed in previous years by Yves St Laurent and Swarovski.

She will be more than a simple sponsor. The aim is for long-term cooperation between the Serpentine and her own gallery, The Garage Centre for Contemporary Culture, which opens in Moscow a week later.

Ms Zhukova said: "I really love the philosophy behind the Serpentine Gallery. It is always quite innovative and open to different cultures.

"I also like the fact you have great architects like Frank Gehry building these amazing pavilions that mean you can have a party in the middle of Hyde Park."

She declined to discuss the financial support she is offering the Serpentine, saying: "This is really a partnership that is being established. We're focused on thinking of how we can work together in the future."

It is unclear whether Mr Abramovich will attend the big night. His passion for the arts - possibly encouraged by his new love - has seen him splash out millions on paintings this year. Guests in previous years have included Jude Law, Pierce Brosnan, Kevin Spacey, Dennis Hopper, Kylie Minogue, and Princess Diana.

Ms Zhukova's father is property magnate Alexander Zhukov, an associate of Mr Abramovich - making her the daughter and the girlfriend of billionaires.

But she said she had nothing to prove: "I don't feel I've been described in an un-serious way or in a way that limits me to simple associations." Ms Zhukova, whose mother Elena is a microbiologist, has her own fashion label Kova and T - which went on sale in Harvey Nichols at the end of last year. The Serpentine party will have a Russian theme in her honour. An artwork for the event has been commissioned from Alexander Vinogradov and Vladimir Dubossarsky.

Hans Ulrich Obrist, the Serpentine's codirector of exhibitions, said: "We have focused in recent years on China and India and now it's very exciting to have this dialogue with Dasha and The Garage as our first connection with Moscow. I think it's an incredibly exciting moment for art in the East."

The Garage opens with an exhibition of installations by Ilya and Emilia Kabakov, whose work has been championed at the Serpentine.

Ms Zhukova said: "I think I'm fortunate because I'm starting with the Kabakovs. They're very meticulous and know exactly how their art will be displayed."